Quote:
Originally Posted by margaretmattson
An average is not a good tool to use. In the Villages, some owners paid $500,000-$800,000 for their home. They are now selling at 1.2 - 2 million dollars. This skews the average cost of a home upward. You have to look at the median price of YOUR STYLE of home to determine its value. This is what realtors and appraisers do.
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As a statistic, the # of home sales is unrelated to pricing.
As a statistic, the rate of home sales is unrelated to pricing.
As a statistic, the upward or downward trend in units sold or listed is unrelated to pricing.
As a practical matter, a "soft market" (in real estate) usually causes price compression. Higher priced homes decrease at a faster rate and lower priced home might actual trend upwards. Supply & demand and the elasticity of the demand curve (I think that's right word).